Research On The Performance Of M&A Of Pharmaceutical Companies In China

With the economic development,the competitive environment has become increasingly fierce,enterprises in order to be in the fierce market environment to get better development,and only continue to enhance their own strength.The development of enterprises mainly through two ways to achieve: First,the enterprise itself through the development of the market,improve technology,etc.,to expand the scale of enterprises to improve market competition;Second,through mergers and acquisitions to enhance the strength.M & A has become an important means for the rapid development and expansion of enterprises.It can expand capital,enhance market share and diversify risk.Mergers and acquisitions make enterprises no longer rely on their own accumulation and develop slowly.It provides a new way for enterprises to expand rapidly.Pharmaceutical companies affected by the economic impact of the industry and related policies to promote,since 2013,the industry mergers and acquisitions continue to heat up,the industry has a number of pharmaceutical companies have mergers and acquisitions,industry consolidation highlights.In order to reflect the impact of M & A activities on corporate performance and to provide reference for mergers and acquisitions in the future industry,this paper takes Conba as an example to analyze the performance of medical M & A in order to reflect the impact of M & A activities on corporate performance.This paper is divided into five parts.The first part explains the background and significance of the topic,and then summarizes the domestic and foreign literatures from the aspects of whether the merger can improve the performance of the enterprise and the reasons that affect the performance of the M & A.Content and methods are described.The second part introduces the theory of M & A performance.The third part of the development of the pharmaceutical industry,the problems faced,as well as the status of the pharmaceutical industry M & A analysis.The fourth part takes Conba as an example.Firstly,it analyzes the motives of M & A,and then analyzes the performance of Conba's performance from two aspects: individual index and economic value.The fifth part draws conclusions and makes suggestions for improving the performance of M & A.Through the above research,this article got the following conclusions:(1)After the acquisition,Conba's economic increase has been improved;(2)the profitability of the acquisition of Connery,solvency and M & A compared to before the decline,operational capacity,the ability to grow has improved;(3)from the non-financial performance analysis,after the acquisition of enterprise market share,research and development capabilities,staff quality and so on to be improved;(4)from the impact of Conba M & A performance factors such as payment and M & A performance has an impact.